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Markets soar as buying progresses

Monday, April 20, 2009 (12:50:29) Mumbai, Maharashtra: Indian equities markets started the week on a bullish note on Monday with a key index rising about 146 points by a little before noon. The Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 11,065.10 points, was at 11,169.13 points, 1.32 percent or 146.04 points higher than its previous close on Friday. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was at 3,427.25 points, 1.27 percent up from its last close of 3,384.4 points. Broader market indices followed key indices, with the BSE midcap index rising 2.8 percent, and the BSE smallcap index up 2.65 percent. Of the 13 sectoral indices on the BSE, the indices for realty, metal and consumer durable stocks gained the most. Gainers among the scrips on the 30-composite Sensex were Jaipraksh Associates, up 7.04 percent at Rs.119.40; Reliance Communications, up 4.36 percent at Rs.227.60; Reliance Infra, up 4.31 percent at Rs.687, and Tata Motors, up 3.89 percent at Rs.245.50. Among the losers were Sun Pharma, down 1.46 percent at Rs.1,188; Hindustan Unilever, down 1.01 percent at Rs.235.80; Tata Power, down 0.64 percent at Rs.874.40, and HDFC, down 0.29 percent at Rs.1,787.55. In other Asian markets, a key Japanese index - the Nikkei of the Tokyo Stock Exchange - closed marginally in the green Monday at 8,924.75 points, about 17.17 points higher than its last closing figure. Comparatively, the Hang Seng, a key index of the Hong Kong Stock Exchange, fared better and was ruling higher up in the positive terrain at 15,774.26 points, 224.27 points over its previous close. US stock markets had closed the week on a positive note on Friday with the blue-chip Dow Jones Industrial Average rising slightly by 5.9 points, or 0.07 percent, to 8,131.33 points. The broader Standard and Poor's 500 Index gained 4.30 points, or 0.5 percent, to 869.6. The technology-heavy Nasdaq Composite Index increased 2.63 points, or 0.16 percent, to 1,673.07 points. (IANS)